The Nigerian Naira appreciated against the United States dollar in the parallel market at the start of the new trading week, supported by improved dollar liquidity and moderate demand from importers.
On Wednesday, October 22nd 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,460 per dollar for buying and ₦1,470 per dollar for selling, according to dealers across major forex trading hubs in Lagos and Abuja.
This marks a continuation of last week’s modest recovery as the local currency gradually strengthens after weeks of volatility. Traders attributed the improvement to a slight increase in dollar inflows from remittances and reduced speculative trading activities.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Wednesday, Oct 22, 2025 | Black Market | 1,460 | 1,470 | +₦10 ▲ |
| Tuesday, Oct 21, 2025 | Black Market | 1,470 | 1,480 | – |
| Official (CBN) | — | — | — | See CBN |
Exchange rates verified by Naijaonpoint.
How Much Is Dollar to Naira Today in Black Market
As of today, the Dollar to Naira Black Market exchange rate shows operators buying at ₦1,460 per dollar and selling at ₦1,470 per dollar. This performance reflects a slight gain in the value of the Naira compared to the previous week’s trading range.
Traders say the appreciation is being driven by improved supply from remittance inflows and relatively stable oil revenue. However, the continued difference between the official and black market rates remains a major concern for investors and businesses.
For the latest official rates and monetary policy updates, visit the Central Bank of Nigeria (CBN).
Why the Naira Is Strengthening
The Naira’s recent appreciation in the parallel market can be linked to several key factors:
-
Improved Dollar Supply: Steady inflows from remittances and oil proceeds have boosted dollar availability across informal channels.
-
Reduced Speculation: Many traders have slowed speculative buying following regulatory tightening and increased CBN oversight.
-
Stable Global Oil Prices: With crude oil prices holding around $80–$85 per barrel, Nigeria’s forex reserves have received a mild lift.
-
Moderate Demand: Importers and travelers are exercising caution amid expectations that the Naira could firm up further.
Although this trend is positive, analysts warn that the gains are fragile and may reverse if dollar inflows slow or inflation worsens.
Economic Implications
The appreciation of the Naira, while modest, has broad implications for the economy:
-
Importers: Benefit from lower exchange costs, potentially reducing the prices of imported goods.
-
Consumers: May experience mild relief from inflation if the Naira continues to stabilize.
-
Investors: Improved currency stability could restore confidence and attract portfolio inflows.
-
Students and Travelers: Reduced black market rates lower costs for tuition and international travel expenses.
However, experts emphasize that long-term stability will depend on sustainable dollar inflows, policy transparency, and greater alignment between the official and black market rates.
Market Outlook
Analysts expect the Naira to trade within a narrow range of ₦1,455 to ₦1,475 per dollar in the coming days as the market absorbs fresh liquidity. The outlook remains cautiously optimistic, with expectations that the CBN could maintain its interventions to stabilize the market further.
Nevertheless, the structural imbalance between supply and demand for foreign exchange remains unresolved. Economic diversification, increased exports, and stronger investor confidence are crucial to ensuring lasting Naira stability.
Conclusion
The Dollar to Naira Black Market exchange rate today, Wednesday, October 22nd 2025, is ₦1,460 for buying and ₦1,470 for selling, reflecting a steady appreciation of the Naira in the parallel market.
For accurate daily updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
While the Naira’s current momentum is encouraging, the path to long-term currency stability depends on Nigeria’s ability to strengthen its foreign exchange reserves, diversify export earnings, and sustain policy consistency.